search query: @author Mason, C. / total: 14
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| Author: | Mason, C. Phillips, O. |
| Title: | Mitigating the tragedy of the commons through cooperation: an experimental evaluation |
| Journal: | Journal of Environmental Economics and Management
1997 : OCT, VOL. 34:2, p. 148-172 |
| Index terms: | ENVIRONMENTAL ECONOMICS EVALUATION CO-OPERATION |
| Language: | eng |
| Abstract: | In a commons, each firm's costs rise with industry output. This externality can be mitigated if firms jointly restrict harvests, but higher prices result. Repeated interaction usually facilitates cooperation that lowers harvest rates. Increased cooperation suggests there should be more firms in the socially optimal market structure. Using experimental markets with two to five "firms", the authors observe the influence of industry size on harvest rates. Cooperation increases the socially optimal number of firms in markets when there are static externalities, but not for dynamic externalities. |
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